Smarter Web Sells $11.68M in Bitcoin to Repay Debt

Another major digital asset treasury company has followed in the footsteps of MicroStrategy by selling Bitcoin to bolster its balance sheet.

The Smarter Web Company, a leading player in the cryptocurrency space, revealed on July 23 that it had sold 177.8909127 BTC worth approximately $11.68 million to repay an outstanding convertible debt facility.

This sale marks the first time the company has offloaded Bitcoin since 2022 and comes as part of its efforts to maintain balance-sheet flexibility rather than risk equity dilution.

According to CEO Andrew Webley, The Smarter Web Company had initially opted for a convertible instrument that provided innovative leverage alternatives but has since reevaluated its approach to capital allocation.